Tudor Investment Corp ET AL Raises Stake in Microsemi Corporation (MSCC)
Tudor Investment Corp ET AL raised its holdings in shares of Microsemi Corporation (NASDAQ:MSCC) by 175.8% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 27,744 shares of the semiconductor company’s stock after acquiring an additional 17,685 shares during the quarter. Tudor Investment Corp ET AL’s holdings in Microsemi Corporation were worth $1,298,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also modified their holdings of MSCC. Russell Investments Group Ltd. raised its holdings in shares of Microsemi Corporation by 9.5% in the first quarter. Russell Investments Group Ltd. now owns 43,244 shares of the semiconductor company’s stock valued at $2,228,000 after purchasing an additional 3,763 shares during the last quarter. UBS Asset Management Americas Inc. lifted its position in shares of Microsemi Corporation by 1,319.0% in the first quarter. UBS Asset Management Americas Inc. now owns 561,159 shares of the semiconductor company’s stock worth $28,917,000 after purchasing an additional 521,612 shares in the last quarter. Karp Capital Management Corp bought a new stake in shares of Microsemi Corporation in the first quarter worth $1,344,000. JPMorgan Chase & Co. lifted its position in shares of Microsemi Corporation by 1.8% in the first quarter. JPMorgan Chase & Co. now owns 96,507 shares of the semiconductor company’s stock worth $4,973,000 after purchasing an additional 1,670 shares in the last quarter. Finally, Prudential Financial Inc. lifted its position in shares of Microsemi Corporation by 0.3% in the first quarter. Prudential Financial Inc. now owns 76,840 shares of the semiconductor company’s stock worth $3,960,000 after purchasing an additional 225 shares in the last quarter. 98.47% of the stock is owned by institutional investors.
Several research analysts recently commented on MSCC shares. Royal Bank Of Canada cut shares of Microsemi Corporation from a “top pick” rating to an “outperform” rating and reduced their target price for the stock from $64.00 to $58.00 in a report on Wednesday, June 14th. Raymond James Financial, Inc. initiated coverage on shares of Microsemi Corporation in a research note on Friday, June 16th. They issued a “market perform” rating on the stock. BidaskClub lowered shares of Microsemi Corporation from a “hold” rating to a “sell” rating in a research note on Saturday, June 17th. Goldman Sachs Group, Inc. (The) raised shares of Microsemi Corporation from a “neutral” rating to a “buy” rating and cut their price target for the stock from $54.00 to $53.00 in a research report on Wednesday, July 5th. Finally, BMO Capital Markets reissued a “buy” rating and set a $62.00 price target on shares of Microsemi Corporation in a research report on Thursday, July 20th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $58.00.
Shares of Microsemi Corporation (MSCC) opened at 52.70 on Wednesday. The firm has a market capitalization of $6.10 billion, a P/E ratio of 53.34 and a beta of 1.18. The company has a 50-day moving average of $49.76 and a 200 day moving average of $49.79. Microsemi Corporation has a 52 week low of $37.11 and a 52 week high of $57.97.
Microsemi Corporation (NASDAQ:MSCC) last issued its quarterly earnings data on Thursday, July 27th. The semiconductor company reported $0.99 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.81 by $0.18. Microsemi Corporation had a net margin of 6.90% and a return on equity of 19.91%. The business had revenue of $458.10 million during the quarter, compared to the consensus estimate of $457.87 million. During the same period in the prior year, the firm posted $0.73 EPS. The firm’s quarterly revenue was up 6.2% compared to the same quarter last year. Equities research analysts anticipate that Microsemi Corporation will post $3.84 earnings per share for the current year.
Microsemi Corporation declared that its Board of Directors has initiated a share repurchase plan on Thursday, July 27th that allows the company to repurchase $250.00 million in shares. This repurchase authorization allows the semiconductor company to buy up to 43% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.
In other news, insider Dennis R. Leibel sold 3,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 2nd. The stock was sold at an average price of $52.46, for a total value of $157,380.00. Following the completion of the transaction, the insider now directly owns 7,369 shares of the company’s stock, valued at $386,577.74. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP Frederick C. Goerner sold 1,500 shares of the stock in a transaction that occurred on Thursday, August 31st. The shares were sold at an average price of $50.12, for a total value of $75,180.00. Following the sale, the vice president now directly owns 60,436 shares of the company’s stock, valued at $3,029,052.32. The disclosure for this sale can be found here. In the last quarter, insiders sold 11,650 shares of company stock valued at $600,076. Company insiders own 0.57% of the company’s stock.
Microsemi Corporation Profile
Microsemi Corporation is a designer, manufacturer and marketer of analog and mixed-signal semiconductor solutions differentiated by power, security, reliability and performance. The Company offers a portfolio of semiconductor and system solutions for aerospace and defense, communications, data center and industrial markets.
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